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A leading chain asset breaks through $901, but the RSI overbought signal rings the alarm for risk
【Crypto World】A certain leading on-chain asset has recently performed well, with its price rising over 2.5% to reach $906.60, successfully breaking through the key resistance at $901. Trading activity has also increased, with 24-hour trading volume soaring to $2.02 billion, up 22.97%.
From a technical perspective, this rally opens up the possibility of retesting $926. But it is worth noting that the Relative Strength Index (RSI) has now reached 74.35, entering the clearly overbought zone. What does this mean? There is short-term profit-taking pressure, and the price may pull back to around $891.62.
On a larger cycle scale, this asset still has a 33.76% decline space from its all-time high of $1370.55, indicating that the overall correction phase is still ongoing.
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It's the same old story, breaking a resistance and then bragging... sooner or later it will pull back
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Wait, still 34% away from the high? Then buying now just makes you the bag holder
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Such high enthusiasm is actually dangerous, a sign of a sell-off
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$906, I bet five bucks it will drop back below $890 within the week
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Chasing after overbought conditions, this is the mindset of a rookie
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I really don't dare to touch this overbought market
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Feels like another wave of correction is coming, just watch
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Why is it always like this? When it rises, it's a good opportunity; when it falls, it's the technicals...
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See you at 891, no need to think twice
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Overbought and taking profits at the same time, everyone should honestly wait for a pullback.
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Still a long way from the all-time high, don’t be fooled by this small increase.
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20 billion in trading volume is quite fierce, but the RSI signal can't be ignored.
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926 is the target, but the RSI at 74 needs to drop first, that’s the pattern.
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If it’s really going up, why did the RSI become overbought so quickly? It feels a bit fake.
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Starting to wave while still in the recovery phase? Anyway, I don’t chase highs.
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Breaking 901 looks satisfying, but the short-term resistance is indeed significant.